After decades of inactivity, the former Hydro pump-station is being restored as a boutique wilderness retreat inside Tasmania's World Heritage Area.

Devonport-based construction company Mead-Con is working through the challenging winter weather of Tasmania's Central Highlands to reinvigorate the two 1940s buildings - the pumphouse sitting out in the water and the lakehouse on the lake's edge.

For project developer and tourism leader Simon Currant, this is the culmination of almost 20 years of planning.

"We're very excited to see this project finally launch," Mr Currant said.

"These beautiful buildings have been neglected for so long and now we're bringing them back to life."

Award-winning Tasmanian architecture firm Cumulus has designed the transformation from industrial relic to wilderness retreat.

"The history of Pumphouse Point is very important to the overall experience and we plan to celebrate its heritage," Mr Currant said.

"The exterior of the buildings is spectacular and will be preserved with the construction occurring inside."

The pumphouse building sits out in the middle of the lake in our globally recognised world heritage area, a unique tourism proposition for national and international audiences.

"We are pleased to have support from both major political parties, enabling us to develop a truly world- class wilderness experience," he said.

Pumphouse Point will offer simple, stylish comfort in 18 rooms ranging from $240 to $480, including bed, breakfast and outdoor activities.